Solar-rental options open doors for homeowners

8:15 PM,
Jun. 13, 2013

Melissa Pelchar demonstrates how an iPad app allows her to monitor her electrical output May 21 in Burlington, Conn. The home was built in 1994, with an addition put on in 2004, and uses propane for its heat, stove, dryer and hot water, and Connecticut Light & Power for electricity. The panels are leased and were installed this past January.

Written by

Brian Dowling
The Hartford Courant

The same pathway that has put many in the seat of a new car - the lease - is taking off as a financial vehicle for homeowners who don't have tens of thousands of dollars sitting around to buy a rooftop solar-panel system outright.

It works like this. A solar company that offers a lease option - like SolarCity and SunGevity - comes to your house to determine whether a solar array would work on your roof. If it's suitable, depending on the company, you can choose either to pay zero upfront and a regular lease fee each month, or you can pay some money up front and have lower or no monthly lease fees.